Page 447 - MOE ENGLISH PR - APRIL 2024

successful conclusion of negotiations and reaching out the CEPA final provisions
between the two sides.

This agreement marks a significant milestone within the UAE's CEPA programme, which
aims to raise the value of the country's non-oil foreign trade to AED4 trillion by 2031.

The non-oil trade between the UAE and Chile amounted to US$305.1 million in 2023,
representing a remarkable growth of 23.6% since 2019.

Dr. Al Zeyoudi welcomed the successful conclusion of the talks, stressing that the
agreement will open up access for UAE companies and exporters to the fast-growing
economies of Chile and Latin America.

He commented, "Chile is an ideal partner within the CEPA programme being
implemented by the UAE. This partnership will foster sustainable and mutually beneficial
growth in trade of goods and services, investment, and economic cooperation.

He added, "With the agreement's signing, the private sectors in both countries will
benefit from vital new trade links between South America and the Middle East. These
two regions represent dynamic and growing markets with a population of over 800
million."

For his part, Alberto van Klaveren remarked, "We view the conclusion of CEPA
negotiations as a remarkable achievement within our distinguished relationship with the
UAE, sharing a vision for open and rules-based trade.

"The agreement will add further momentum into our bilateral trade, while also
generating boundless new opportunities for a more prosperous, modern, and dynamic
economic relationship between Chile and the UAE," he further noted.

Dr. Al Zeyoudi's visit to Central and South America, accompanied by a high-level
delegation, also saw the signing of CEPA agreements with both Colombia and Costa
Rica.

https://www.msn.com/en-ae/news/other/uae-and-chile-successfully-concludes-cepa-
negotiations/ar-AA1nDncs